Green Market Report's Marijuana Money July 26, 2019

This is the marijuana money for the week ending July 26, 2019.

This week the FDA sent a warning letter  to Curaleaf saying that the company made unsubstantiated health claims on its CBD products. “You should take prompt action to correct the violations cited…” reads the letter. “Failure to promptly correct these violations may result in legal action without further notice, including, without limitation, seizure and injunction.” Curaleaf has 15 days to respond to the FDA’s letter and take corrective actions. CVS then decided to pull the products from its shelves and this comes just 4 months after CVS made a big deal about selling the products. Curaleaf stock plunged from roughly $8 to below $7 in one day.

Sundial Growers, an early-stage Canadian cannabis producer, announced today the terms of its initial public offering (IPO). Hoping to raise $130 million, the company is offering 10 million shares ranging in price between $12 and $14

Amplify ETF’s announced the launch of Amplify Seymour Cannabis ETF (NYSE Arca: CNBS), an actively managed ETF covering the cannabis industry. Tim Seymour, CIO of Seymour Asset Management and CNBC Fast Money co-host, will act as the fund’s portfolio manager.

The Flowr Corp. was originally thought to be listing shares last week on the NASDAQ Marketplace, but that was shelved. Instead, the company announced on Monday that it agreed to sell 10 million units of the company at a price of C$4.10 per unit for approximately C$43 million in proceeds.

CannTrust (CTST) stock took another turn for the worse after it was disclosed that the top executives were very well aware of the illegal grows happening in the companies unlicensed rooms.

After taping the video, this news was announced: Auxly Cannabis Group Inc. (TSX.V: XLY) (OTCQX: CBWTF) said that the international tobacco company Imperial Brands PLC will make a $123 investment in the company through a convertible debenture.

Video Staff


Agrify

Leave a Reply

Your email address will not be published. Required fields are marked *

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 4 hours

New York Appeals Cannabis Licensing Injunction to Second Circuit

@GreenMarketRpt – 5 hours

New York Regulators Choose Harlem for First Recreational Dispensary Site

Back to Top

Choose Your News

Subscribe to the Green Market Report newsletter that gives you original content delivered straight to your inbox.

 Subscribe

By continuing I agree to your Privacy Policy and consent to receive relevant newsletters and other email communications on events, editorial features, and special partner offers from Green Market Report. I can unsubscribe or change my email preferences at any time.